The function of digital currency commodity circulation
Publish: 2021-05-21 10:14:58
1.
digital currency is a kind of legal tender, which must be issued by the central bank. Both digital gold coin and cryptocurrency belong to digital currency, which is not a network virtual currency, because it is not limited to virtual space, but is often used for real goods and services transactions, such as bitcoin, Wright coin, bitstock, etc. at present, there are thousands of digital currencies issued around the world
extended data:
1. Impact on financial infrastructure
the decentralized mechanism of value exchange based on distributed ledger technology has changed the basic settings of gross and net settlement on which financial market infrastructure depends. The use of distributed ledgers also poses challenges to trading, clearing and settlement, as it promotes the disintermediation of traditional service providers in different markets and infrastructures. These changes may have potential impacts on market infrastructure other than retail payment systems, such as large payment systems, securities settlement systems or trading databases
If digital currency and distributed ledger based technology are widely used, it will bring challenges to the intermediary role of financial system participants, especially banks. As a financial intermediary, banks perform the ties of acting supervisors and supervise borrowers on behalf of depositors. Usually, banks also carry out liquidity and maturity conversion business to realize the financing from depositors to borrowers. If digital currency and distributed ledger are widely used, any subsequent disintermediation may have an impact on savings or credit evaluation mechanisms2. The people's Bank of China is trying out digital currency, which can perform five functions of currency, including value measure, circulation means, payment means, storage means and the function of world currency
3.
Value scale: money value scale is the most basic and important function of money, that is, money acts as a scale to show and measure the value of all other commodities. The quantity of commodity value depends on the length of social necessary labor time
Means of circulation: means of circulation refers to the function of money as a medium of exchange in commodity circulation. Before the emergence of money, commodity exchange was the direct exchange of goods, that is, commodity commodity. After the emergence of money, commodity exchange is carried out through money as a medium, namely commodity currency commodity. Here, money plays the role of medium in the exchange of two kinds of commodities and performs the function of circulation means Storage means: the function of storage means of money is the function of money withdrawing from circulation and being preserved as the general representative of social wealth. As a means of storage, money can spontaneously regulate the amount of money in circulation. When the amount of money needed in circulation decreases, the surplus money will withdraw from circulation; When the amount of money needed in circulation increases, part of the stored money goes into circulation. The money used as a means of storage must be real and valuable gold and silver money. Only gold and silver coins or gold and silver strips can play the role of currency storagemeans of payment: means of payment refers to the function of money in the performance of debt settlement. In commodity exchange, the sale of goods can be carried out on credit instead of cash, and cash can be paid after a certain period of time
CCY (currency) is essentially a contract between the owner and the market on the right of exchange, which is essentially an agreement between the owners. I give what I have to the market in exchange for what I need. Money is the agreement in this process, which reflects the economic cooperation between indivials and societythe nature of money contract determines that money can have different forms, such as general equivalent, precious metal money, paper money, electronic money and so on. It can be used as a medium of transaction, storage value, deferred payment standard and accounting unit. Physical currency is a special commodity that serves as an equivalent in the exchange of goods and services. It is the material and symbolic appendage of people's commodity values
it includes not only currency in circulation, especially legal currency, but also various savings deposits. In the field of modern economy, only a small part of the field of currency is displayed in the form of real currency, that is, most transactions use checks or electronic currency
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5. To design digital currency, we need to consider the following things:
first, we need to clarify the concept, definition, classification, functions and characteristics of digital currency, put forward the Chinese definition of digital currency, distinguish the similarities and differences and relations between legal digital currency and private digital currency in technical characteristics, economic characteristics and institutional arrangements, and discuss the process of digital currency performing monetary functions, And how to meet the requirements of a high-quality monetary system
Second, we need to conct in-depth research on the operation of digital currency, and explore the issuance, circulation, transaction and withdrawal mechanism of digital currency based on the al system of central bank and commercial bank. On this basis, the selection of technical route and key technology to meet its operation mechanism is discussed, and the key technology research and breakthrough are carried out
thirdly, we should study the effect and influence of digital currency on monetary and financial operation system
fourthly, based on the above research results, the scientific top-level design of digital currency supervision is formed, including the development and design of digital currency, the development of applicable regulatory coordination tools, and the selection of appropriate regulatory indicators
more importantly, the digital currency that the central bank plans to issue is different from bitcoin, Leyte, dogcoin, decent and other digital currencies.
first, we need to clarify the concept, definition, classification, functions and characteristics of digital currency, put forward the Chinese definition of digital currency, distinguish the similarities and differences and relations between legal digital currency and private digital currency in technical characteristics, economic characteristics and institutional arrangements, and discuss the process of digital currency performing monetary functions, And how to meet the requirements of a high-quality monetary system
Second, we need to conct in-depth research on the operation of digital currency, and explore the issuance, circulation, transaction and withdrawal mechanism of digital currency based on the al system of central bank and commercial bank. On this basis, the selection of technical route and key technology to meet its operation mechanism is discussed, and the key technology research and breakthrough are carried out
thirdly, we should study the effect and influence of digital currency on monetary and financial operation system
fourthly, based on the above research results, the scientific top-level design of digital currency supervision is formed, including the development and design of digital currency, the development of applicable regulatory coordination tools, and the selection of appropriate regulatory indicators
more importantly, the digital currency that the central bank plans to issue is different from bitcoin, Leyte, dogcoin, decent and other digital currencies.
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7. 1 - monetary function refers to the role of money in people's economic life. It is the manifestation of the essence of money. With the development of commodity proction and exchange, various functions of money graally develop
2-means of circulation: in commodity circulation, money serves as the medium of commodity exchange
the circulation function of money is developed in commodity exchange. Before the emergence of money, commodity exchange took the form of direct exchange. After the emergence of money, it becomes the commodity circulation with money as the medium, which makes the direct commodity exchange into two processes. Any commodity procer must first sell goods for money (w-g), and then use money to buy back the needed goods (G-W). In the commodity exchange composed of these two processes, money acts as the medium of exchange activities. The function of this kind of medium commodity exchange is the function of currency circulation means
3 - main principle money, as a means of circulation, is constantly used as a means of purchase in the process of commodity circulation to realize the price of goods. After a certain circulation process, commodities must leave the circulation field and finally enter the consumption field. However, as a means of circulation, money has always remained in the field of circulation, constantly transferred from the buyer to the seller. This constant change of hands forms the currency circulation. Money circulation is based on commodity circulation, which is the manifestation of commodity circulation. As a means of circulation, money needs to have a certain quantity corresponding to the quantity of commodities. In a certain period, the amount of money needed for commodity circulation is determined by the total price of goods to be sold and the average speed of money circulation. The amount of money needed in commodity circulation is directly proportional to the total price of commodity: if the total price of commodity is large, the amount of money needed in circulation will be more; If the total price of a commodity is small, the amount of money needed in circulation will be small. The amount of money needed in circulation is inversely proportional to the speed of money circulation: if the speed of money circulation is fast, the amount of money needed in circulation will be less; If the speed of money circulation is slow, more money is needed in circulation.
2-means of circulation: in commodity circulation, money serves as the medium of commodity exchange
the circulation function of money is developed in commodity exchange. Before the emergence of money, commodity exchange took the form of direct exchange. After the emergence of money, it becomes the commodity circulation with money as the medium, which makes the direct commodity exchange into two processes. Any commodity procer must first sell goods for money (w-g), and then use money to buy back the needed goods (G-W). In the commodity exchange composed of these two processes, money acts as the medium of exchange activities. The function of this kind of medium commodity exchange is the function of currency circulation means
3 - main principle money, as a means of circulation, is constantly used as a means of purchase in the process of commodity circulation to realize the price of goods. After a certain circulation process, commodities must leave the circulation field and finally enter the consumption field. However, as a means of circulation, money has always remained in the field of circulation, constantly transferred from the buyer to the seller. This constant change of hands forms the currency circulation. Money circulation is based on commodity circulation, which is the manifestation of commodity circulation. As a means of circulation, money needs to have a certain quantity corresponding to the quantity of commodities. In a certain period, the amount of money needed for commodity circulation is determined by the total price of goods to be sold and the average speed of money circulation. The amount of money needed in commodity circulation is directly proportional to the total price of commodity: if the total price of commodity is large, the amount of money needed in circulation will be more; If the total price of a commodity is small, the amount of money needed in circulation will be small. The amount of money needed in circulation is inversely proportional to the speed of money circulation: if the speed of money circulation is fast, the amount of money needed in circulation will be less; If the speed of money circulation is slow, more money is needed in circulation.
8. The five functions of money include value scale, means of circulation, means of payment, means of storage and world money
commodity exchange includes barter and commodity circulation
commodity circulation is a kind of commodity exchange mediated by money.
commodity exchange includes barter and commodity circulation
commodity circulation is a kind of commodity exchange mediated by money.
9. 1 - monetary function refers to the role of money in people's economic life. It is the manifestation of the essence of money. With the development of commodity proction and exchange, various functions of money graally develop. 2 - means of circulation - in commodity circulation, money serves as the medium of commodity exchange. The function of currency circulation means is developed in commodity exchange. Before the emergence of money, commodity exchange took the form of direct exchange. After the emergence of money, it becomes the commodity circulation with money as the medium, which makes the direct commodity exchange into two processes. Any commodity procer must first sell goods for money (w-g), and then use money to buy back the needed goods (G-W). In the commodity exchange composed of these two processes, money acts as the medium of exchange activities. The function of this kind of medium commodity exchange is the function of currency circulation means. 3 - the main principle - money as a means of circulation, in the process of commodity circulation, constantly as a means of purchase, to achieve the price of goods. After a certain circulation process, commodities must leave the circulation field and finally enter the consumption field. However, as a means of circulation, money has always remained in the field of circulation, constantly transferred from the buyer to the seller. This constant change of hands forms the currency circulation. Money circulation is based on commodity circulation, which is the manifestation of commodity circulation. As a means of circulation, money needs to have a certain quantity corresponding to the quantity of commodities. In a certain period, the amount of money needed for commodity circulation is determined by the total price of goods to be sold and the average speed of money circulation. The amount of money needed in commodity circulation is directly proportional to the total price of commodity: if the total price of commodity is large, the amount of money needed in circulation will be more; If the total price of a commodity is small, the amount of money needed in circulation will be small. The amount of money needed in circulation is inversely proportional to the speed of money circulation: if the speed of money circulation is fast, the amount of money needed in circulation will be less; If the speed of money circulation is slow, more money is needed in circulation.
10. 1. Value scale refers to that money acts as a social scale to measure the value of commodities. The reason why money can perform the function of value measurement is that money itself has value, so it can measure the value of other commodities by its own value
2. Means of circulation. The function of means of circulation is that money acts as the medium of commodity exchange, that is, the function of means of purchase. Its main feature is that in the sale of goods, the transfer of goods and the transfer of money are completed at the same time. Generally speaking, it is one-hand payment and one-hand delivery
3. Storage means, the function of money withdrawing from circulation field and being preserved as the general representative of social wealth. As a means of storage, money can spontaneously regulate the amount of money in circulation. When the amount of money needed in circulation decreases, the surplus money will withdraw from circulation; When the amount of money needed in circulation increases, part of the stored money goes into circulation
4. Means of payment. Means of payment come into being with the emergence of credit sale of goods. In credit, money is used to pay debts. Later, it was used to pay government rent, interest, taxes, wages and so on
5. World currency, which is proced and developed with the development of commodity proction and exchange. When commodity exchange goes beyond national boundaries and develops into international trade, commodity generally develops its own value in the world. As its value manifestation, currency becomes the general equivalent of commodity in the world, that is, world currency.
2. Means of circulation. The function of means of circulation is that money acts as the medium of commodity exchange, that is, the function of means of purchase. Its main feature is that in the sale of goods, the transfer of goods and the transfer of money are completed at the same time. Generally speaking, it is one-hand payment and one-hand delivery
3. Storage means, the function of money withdrawing from circulation field and being preserved as the general representative of social wealth. As a means of storage, money can spontaneously regulate the amount of money in circulation. When the amount of money needed in circulation decreases, the surplus money will withdraw from circulation; When the amount of money needed in circulation increases, part of the stored money goes into circulation
4. Means of payment. Means of payment come into being with the emergence of credit sale of goods. In credit, money is used to pay debts. Later, it was used to pay government rent, interest, taxes, wages and so on
5. World currency, which is proced and developed with the development of commodity proction and exchange. When commodity exchange goes beyond national boundaries and develops into international trade, commodity generally develops its own value in the world. As its value manifestation, currency becomes the general equivalent of commodity in the world, that is, world currency.
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